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Jan 28, 2010
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we are showing you a live picture of the debate that's happening in washington. right now we're keeping a tal leave the votes. last we saw 51 yes, 23 nos. that's according to reuters who is keeping tabs and we've got steve liesman coming up as well. >> meanwhile, maria bartiromo is in davos, switzerland, for the world economic forum. she'll be talking to some of the most influential economic minds in the world including blackstone chairman and ceo, steve schwarzman but first let's take a look at where the major indices are trading and it has been another poor day today. apart from yesterday, of course typically in this last hour, we have seen selling come in right in this final 60 minutes of trade. for the most the dow jones industrial average is down. at the nasdaq we've there a bad day for technology today on qualcomm, on motorola, disappointment on apple and i just want to talk about the levels on the s&p. importantly today we broke obvious support at 1085. we based that -- that was the base that we had, established over six weeks at the end of last year. we g
we are showing you a live picture of the debate that's happening in washington. right now we're keeping a tal leave the votes. last we saw 51 yes, 23 nos. that's according to reuters who is keeping tabs and we've got steve liesman coming up as well. >> meanwhile, maria bartiromo is in davos, switzerland, for the world economic forum. she'll be talking to some of the most influential economic minds in the world including blackstone chairman and ceo, steve schwarzman but first let's take a...
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Jan 21, 2010
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it's what's coming out of washington. so another day like this, then i think it would be time to buy and then i think we would have seen you know a pretty bad case scenario priced in. >> what about, karen, what's coming out of china in terms of the feeling that there may be a tightening there? and certainly the pullback that we've seen in commodities. materials, for one, are having a terrible day. alcoa, for example and some the other commodities are really getting hammered and we're watching the dollar as well. so you've got washington on one hand weighing on the markets and you've got china on the other. how do you play that right now? >> caller: well, it's a little painful for today. but i think that the china growth story is still intact. i think it's not a bad thing for them to put on the brakes a little bit, so you know for a longer term investor, which we are, i don't think that's a terrible thing. we don't really do a lot today. the extent we get a little bit more of a sell-off, i'll buy some of the names that we
it's what's coming out of washington. so another day like this, then i think it would be time to buy and then i think we would have seen you know a pretty bad case scenario priced in. >> what about, karen, what's coming out of china in terms of the feeling that there may be a tightening there? and certainly the pullback that we've seen in commodities. materials, for one, are having a terrible day. alcoa, for example and some the other commodities are really getting hammered and we're...
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Jan 14, 2010
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i think that people are taking a wait-and-see approach, waiting on washington to dictate what the policies are going to look at. >> i see. still seeing buying power in technology. >> and materials. >> what you are seeing in the financial services. >> only seen is the sell side. so our customers are getting out, lighting up positions but it's not significant. i mean they're not big players in them anyways so it's hard to gauge what my guys are doing as opposed to what steve's customers are doing but as far as tech stocks definitely seeing money going into it. >> catalyst, steve, later in the year 2010, what are the main catalysts that investors need to focus on in terms of putting money to work. >> where i get bullish, middle of the year, unless the bush tax cuts are extended i think that we're looking at higher taxes in 2011. the market's always ahead. >> yeah, looking at higher taxes we know. >> well we are but a rumor that those tax cuts are extended, so if they aren't extended, we're looking at june/july on a pullback, foreseeing higher taxes, higher corporate taxes, higher payroll taxe
i think that people are taking a wait-and-see approach, waiting on washington to dictate what the policies are going to look at. >> i see. still seeing buying power in technology. >> and materials. >> what you are seeing in the financial services. >> only seen is the sell side. so our customers are getting out, lighting up positions but it's not significant. i mean they're not big players in them anyways so it's hard to gauge what my guys are doing as opposed to what...
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Jan 22, 2010
01/10
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what is your take on the proposals coming out of washington? >> it makes no sense. it really doesn't accomplish a whole lot. if you really think about the lines of business that they're addressing, they really didn't have anything to do do with this financial crisis. they're going after prop trading. what did that have do with the meltdown? nothing. what did the financial hedge funds do with the meltdown, nothing. it doesn't make a whole lot of sense to stop them from engaging in these businesses. and also, why penalize the banks to pay for the losses that the car companies have created? >> well, you know, i don't think that people would say that the car companies created the overall, you know, upset when we were on the brink there when lehman brothers went bankrupt. but certainly, the automakers were a part of the financial upset. there's no doubt about it. and they, in some cases, drove their companies into the ground. >> well, if you look at the t.a.r.p. money, paulson didn't want to give money to the auto companies because he knew that people about political foo
what is your take on the proposals coming out of washington? >> it makes no sense. it really doesn't accomplish a whole lot. if you really think about the lines of business that they're addressing, they really didn't have anything to do do with this financial crisis. they're going after prop trading. what did that have do with the meltdown? nothing. what did the financial hedge funds do with the meltdown, nothing. it doesn't make a whole lot of sense to stop them from engaging in these...
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Jan 8, 2010
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hampton pearson is in washington right now. hampton, what struck you about the president's commentary there? >> reporter: well, not so much what the president had to say, but you heard the last question, as he stepped away from the microphone. question was, no more stimulus needed? no answer from the president. it was interesting. you know he talked about today's jobs report. yes, a disappointment. but in a bit of a glass half full commentary, talking about the -- now we're at about 10% pace in terms of losing jobs as we were when he first came into office just about this time -- [ technical difficulties ] >> all right, hampton, thanks very much. that was hampton pearson, unfortunately we lost that shot. we apologize. get back to hampton as news develops. we are going to take a short break. look at the prospects of a second stimulus package and the difference between perhaps a second stimulus and the jobs package being discussed right now. coming out of washington. when we come back we're talking tech as well. tom bradley from
hampton pearson is in washington right now. hampton, what struck you about the president's commentary there? >> reporter: well, not so much what the president had to say, but you heard the last question, as he stepped away from the microphone. question was, no more stimulus needed? no answer from the president. it was interesting. you know he talked about today's jobs report. yes, a disappointment. but in a bit of a glass half full commentary, talking about the -- now we're at about 10%...
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Jan 15, 2010
01/10
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cnbc's diana olick is in washington. she's been following this story for us. diana? >> reporter: well, sue, you remember during the housing boom we talked about people using their homes as atm machines, using home equities loans and now that means that a lot of troubled borrowers actually have two loans on their homes so when they do a short sale, which is when the lender allows you to sell that home for less than the value of the loan, the first holder of the mortgage, the primary mortgage holder will usually negotiate some sort of settlement payoff to the second lien holder. say, maybe 10% of that second debt. now the second lienholder can refuse it legally and let the home go to foreclosurforeclosurn of course they lose everything. now, what we're hearing though from real estate agents though is that some second lienholders are digs satisfied with primary lender's settlement terms and are actually disclose ago or actually requesting cash from the buyer in the short sale or even the real estate agent ìc without disclosing it on the hud forms. now i'm told we're ha
cnbc's diana olick is in washington. she's been following this story for us. diana? >> reporter: well, sue, you remember during the housing boom we talked about people using their homes as atm machines, using home equities loans and now that means that a lot of troubled borrowers actually have two loans on their homes so when they do a short sale, which is when the lender allows you to sell that home for less than the value of the loan, the first holder of the mortgage, the primary...
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Jan 25, 2010
01/10
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. >> so you see the potential legislation or these proposals coming out of washington as not impeding your investment strategy very much if you are overweight financials. >> that is correct. it is strategist entrance points, gave us an opportunity last week and also i think that you want to look at great names, not only within financial, name-by-name, balance sheet by balance sheet. a reem closed course investment driver kind of investment strategy. but things that are exposed to modest but global economic expansion. we're not in a v-shape economy. it is rather broad based. >> guys, i have to leave it there. i know that you were champing at the bit. quick. >> it will drive money into the united states. fuel are rally and strengthen the dollar. >> i got you. okay so tell strengthen the dollar over what sort of time frame? >> it will and the risk spread that people are talking about with the risk of corporate bonds going up, i don't see it in the market. bond prices are not falling. >> okay good last thought. catch you down the road. certainly a market ahead by 72 points. we have about
. >> so you see the potential legislation or these proposals coming out of washington as not impeding your investment strategy very much if you are overweight financials. >> that is correct. it is strategist entrance points, gave us an opportunity last week and also i think that you want to look at great names, not only within financial, name-by-name, balance sheet by balance sheet. a reem closed course investment driver kind of investment strategy. but things that are exposed to...
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Jan 12, 2010
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what we are hearing out of washington, would you invest in financials? >> yes. i differ a little bit. i think the second year of a bull market is likely to continue to emphasize the cyclicals. it is going to be a good year, but not a great year. the second year is less than the first year. we worry starting in the third year not necessarily the second year. >> we'll leave it there. great to have you on the program. sam stovall and walter todd. see you soon. >> we have about 45 minutes to go on wall street. dow jones industrial average has been under pressure for much of the day. it is down about 54 points. technology is a weak spot, the nasdaq is lower as is the s&p 500. >> when we come back, we take a ride to the j.p. morgan health care conference. glaxo smith kline ceo joins us, how his company is dealing with the cancellation of swine flu vaccine orders. >>> what should investors expect this earnings season following the disappointing results from alcoa? we will tell you which sectors could be the winners and losers in the earnings parade. >> a rare interview
what we are hearing out of washington, would you invest in financials? >> yes. i differ a little bit. i think the second year of a bull market is likely to continue to emphasize the cyclicals. it is going to be a good year, but not a great year. the second year is less than the first year. we worry starting in the third year not necessarily the second year. >> we'll leave it there. great to have you on the program. sam stovall and walter todd. see you soon. >> we have about 45...
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Jan 19, 2010
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. >>> the biggest vote for health care reform may not ultimately originate in washington but massachusetts. with voters heading to the polls to select a new senator, a win by the republican candidate could throw a wrench into the filibuster proof majority that senator democrats currently hold and the process is creating some big moves in health care stocks today. to break down the key elements with me now, andrew pamenti, les funtlater and nbc news chief white house correspondent chuck todd. chuck, let me kick off with you. as we watch the voting come through it is all about turnout. >> it always is. the question is not how many people turn out, who does turn out. how big is the turnout among independents in massachusetts this is a swing vote of sorts, a republican cannot win in massachusetts with the support of republicans. while the energy in the republican base is very high, they need independent voters who went for obama 55-41 in the presidential in 2008 and so far polls have indicated the republican candidate in this race scott brown has been winning independents by a three to one mar
. >>> the biggest vote for health care reform may not ultimately originate in washington but massachusetts. with voters heading to the polls to select a new senator, a win by the republican candidate could throw a wrench into the filibuster proof majority that senator democrats currently hold and the process is creating some big moves in health care stocks today. to break down the key elements with me now, andrew pamenti, les funtlater and nbc news chief white house correspondent chuck...
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Jan 27, 2010
01/10
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from wall street to washington to main street, live from the new york stock exchange, this is the final and most important hour the trading day. >> welcome to the "closing bell." i'm simon hobbs live on the floor of the new york stock exchange. a busy, busy, busy day, melissa. >> that's right. and i'm melissa francis at cnbc global headquarters. maria bartiromo's in davos, switzerland, for the economic world forum where she'll be talking to some of the most influential economic miechbtds world including george soros and bob diamond. houtmajor indices are following following the fed's 9-1 vote to keeping the interest rate's unchanged, that happened in the past hour. and right now they're up 13 points, it's better than 0.1%. take a look at how the nasdaq is trading right now, it's also to the plus side but by about half of a percentage point and the s&p 500 right now is also trading higher by better than a .25% team kicking off with bob pisani down here on the floor. >> well, we've got mr. geithner be we've got steve jobs, we've got fomc and mr. bernanke and the whole crew. the key meetin
from wall street to washington to main street, live from the new york stock exchange, this is the final and most important hour the trading day. >> welcome to the "closing bell." i'm simon hobbs live on the floor of the new york stock exchange. a busy, busy, busy day, melissa. >> that's right. and i'm melissa francis at cnbc global headquarters. maria bartiromo's in davos, switzerland, for the economic world forum where she'll be talking to some of the most influential...
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Jan 22, 2010
01/10
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thank you, from wall street to washington, it's been a huge week around the nation. up neck, we'll look back at the eventful week and tell you what it means for the markets and the economy down the road. stay with us. ( inspiring music playing ) someday, the driver will get to choose how efficient or powerful their car will be. the first ever hs hybrid. only from lexus. the most fuel-efficient of all luxury vehicles. >>> welcome back. the markets end the week with a rocky three days. it's turned january into a loser from a winner when the month began, certainly, the week -- at the beginning of the week the markets were higher and we hit 15-month highs just a week ago. questions surround around the fed chair, as new restrictive proposals are considered. we look now at the week that wa. let's me kick this off with you, you have more news right now impacting the markets coming out of the uk. >> that is exactly right. late in the day, traders tell us that money was going into treasuries, specifically the short end of the market after the uk raised its terror threat level
thank you, from wall street to washington, it's been a huge week around the nation. up neck, we'll look back at the eventful week and tell you what it means for the markets and the economy down the road. stay with us. ( inspiring music playing ) someday, the driver will get to choose how efficient or powerful their car will be. the first ever hs hybrid. only from lexus. the most fuel-efficient of all luxury vehicles. >>> welcome back. the markets end the week with a rocky three days....
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Jan 8, 2010
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john harwood is in washington there. >>> still to come on the "closing bell" one iconic company that recently emerged from bankruptcy is helping pop special star lady gaga help score her number one hit. >>> welcome back. let's take a look at business headlines that we're covering this afternoon. the jobs report number, one story are of the day. it may have disappointed wall street but positive economic news for investors to digest for the day. economists were forecasting a decline of 0.2%. meanwhile, sales jumped 3.3%. more than triple wall street's expectations. and the largest gain in ten months. >>> according to published reports, apple suppliers have begun shipping touch screen panels and other parts that would be used in the company's highly anticipated tablet pc. that would set the table for a second quarter of product launch. apple is expected to officially announce the production of the tablet later this month. >>> an orange juice future's hitting a fresh two-year high today. subfreezing temperatures in florida are expected to continue this weekend which could further damage
john harwood is in washington there. >>> still to come on the "closing bell" one iconic company that recently emerged from bankruptcy is helping pop special star lady gaga help score her number one hit. >>> welcome back. let's take a look at business headlines that we're covering this afternoon. the jobs report number, one story are of the day. it may have disappointed wall street but positive economic news for investors to digest for the day. economists were...
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Jan 27, 2010
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. >>> i'm john harwood on capitol hill in washington. i've just left an on-the-record briefing with house speaker nancy pelosi a much more optimistic tone to getting to pass the health care bill with certain changes that would ab agreed to. that is a positive sign for the vote count on prospect for president obama's health kay plan. no guarantee that the senate would go along with this strategy but she said this is all doable after we passasm these changes in the affordability other the cadillac tax and the special deal for nebraska, we can get this done in the house of representatives. good sign for president obama and, simon, i'll send it off to you on the floor. >> thank you very much. closing out a market that has rallied today. tonight's speech by president obama, absolutely key for banks and for health care stocks. as we stand at the moment, having rallied through so much of the uzir information today. now down 2% potentially for the month overall. [ closing bell ringing ] >>> you're watching a special edition of the "closing bell"
. >>> i'm john harwood on capitol hill in washington. i've just left an on-the-record briefing with house speaker nancy pelosi a much more optimistic tone to getting to pass the health care bill with certain changes that would ab agreed to. that is a positive sign for the vote count on prospect for president obama's health kay plan. no guarantee that the senate would go along with this strategy but she said this is all doable after we passasm these changes in the affordability other...
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Jan 26, 2010
01/10
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hampton pearce is in washington with the details. hi, hampton. >> reporter: this is the time of day where you need a good stiff drink to look at these deficit numbers. congressional budget office predicting a $1.35 trillion deficit this year, 9.2% of gdp. slight improvement from last august predicting a $1.4 trillion, 9.9% of gdp. a jobs bill and more war spending could increase this year's deficit. the economic outlook foresees a sluggish recovery, unemployment 10.1%, 2% gdp growth in 2011, the unemployment will hover around 9.5%. the deficit could drop to $980 billion if the bush tax cuts expire. there is no single silver bullet solution for fixing the deficit. >> one can narrow or close the deficit gap with a variety of changes in the health programs and social security, in discretionary spending or revenue side in various ways. i think many analysts believe any ultimate solution would involve some combination of those pieces because the gap is simply so large. >> ahead of tomorrow's state of the union address and next week's budg
hampton pearce is in washington with the details. hi, hampton. >> reporter: this is the time of day where you need a good stiff drink to look at these deficit numbers. congressional budget office predicting a $1.35 trillion deficit this year, 9.2% of gdp. slight improvement from last august predicting a $1.4 trillion, 9.9% of gdp. a jobs bill and more war spending could increase this year's deficit. the economic outlook foresees a sluggish recovery, unemployment 10.1%, 2% gdp growth in...
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Jan 15, 2010
01/10
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and in washington, house members are trying to make donations to the relief effort tax deductible. here's just some of the latest efforts as rescuers continue to work around the clock in the areas hardest hit by that earthquake. it is a tragedy made worse by ç haiti's economic situation. the country is the western hemisphere's poorest. 80% live under the poverty line. so what are the prospects for an economic recovery there? we get more from our cnbc contributor, greg is the chief political strategist with patomic research group. tony fratto is the managing director at hamilton place strategies, a former white house deputy press secretary. gentlemen, it's good to see you. >> you bet. >> tony, i will start with you. >> sure. >> because you've been to haiti a number of times and one of the times is when you were working in a government capacity there. >> yeah. >> from what you've seen, obviously this is a trajdefer enormous proportions but as the aid comes in, is there, perhaps, an opportunity for the nation to restructure in a viable way economically? >> i think in is, sue. it is
and in washington, house members are trying to make donations to the relief effort tax deductible. here's just some of the latest efforts as rescuers continue to work around the clock in the areas hardest hit by that earthquake. it is a tragedy made worse by ç haiti's economic situation. the country is the western hemisphere's poorest. 80% live under the poverty line. so what are the prospects for an economic recovery there? we get more from our cnbc contributor, greg is the chief political...
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Jan 29, 2010
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this was like the super bowl of washington. we get to do it again next week, too. but i think that the most important is the toned down rhetoric of president obama in his state of union speech. we know after the massachusetts election, he turned much more to the left in terms of populism. the speech last week in ohio was very negative towards financial service industry and we're now at a point where we can have a conversation. are the banks going to be regulated? yes. but it's at least at a much more rational tone where we can move forward and i think that is important. >> did i hear you correctly? you say the state of the union was a toned down speech in terms of rhetoric. the focus on jobs, even though there are republican members of the president lecturing us. >> that's absolutely right. there's going to be a difference. the president thinks he can put proposals in his package and then the republicans are going to adopt it. so they're always going to have that fight. but at the same time, we're not -- the concern amongst investors right now is we could wake up t
this was like the super bowl of washington. we get to do it again next week, too. but i think that the most important is the toned down rhetoric of president obama in his state of union speech. we know after the massachusetts election, he turned much more to the left in terms of populism. the speech last week in ohio was very negative towards financial service industry and we're now at a point where we can have a conversation. are the banks going to be regulated? yes. but it's at least at a...
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Jan 21, 2010
01/10
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peter sorrentino, let me get your take first of what we are hearing out of washington, in terms of the proposals on the major banks. i know that you're an investor in the major bank. what do you want to do now? >> at this juncture i want to find out what this means in terms of the actual implementation, because it is a serious impediment. you know goldman has been goldman because they were a very successful trading house. a lot of what jpmorgan picked up with bear stearns was a trading arm. so if in fact we're now going to discourage that and force that to be broken out, this really makes it very difficult to do a forward valuation on those companies. because who gets what pieces and what's the going rate and what's their distribution network going for. >> so the question, tyler, becomes are the same reasons to invest in these stocks still there if in fact this bill passes? because we're talking about some the most profitable parts of the financial services businesses, the propriety trading among other, capital markets businesses. >> reporter: absolutely and so if you take those away,
peter sorrentino, let me get your take first of what we are hearing out of washington, in terms of the proposals on the major banks. i know that you're an investor in the major bank. what do you want to do now? >> at this juncture i want to find out what this means in terms of the actual implementation, because it is a serious impediment. you know goldman has been goldman because they were a very successful trading house. a lot of what jpmorgan picked up with bear stearns was a trading...
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Jan 14, 2010
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and i would suggest that a lot did not. >> should heads roll in washington, as a result of what went on? >> i think that the regulators who failed in their responsibility, absolutely should. >> all right, leave it there. hank, great to have out room. >> great to be with you. >> thank you so much for joining us and walking us through this, hank greenberg. >>> up next david faber along with breaking news on one of the big m&a stories of the past year. trading is all about strategy. and strategy... is all about information. heat mapping shows me where the money's moving. twenty five hundred stocks... one quick look. that's where the action is. plus, this amazing gadget... it's called the telephone. i can call td ameritrade anytime and talk trades, strategy... anything. td ameritrade. built by traders, for traders. this is what i need. announcer: trade commission free for 30 days, plus get 100 dollars cash, when you open an account. this is not pay the hospital insurance. this is not pay the doctor insurance. this is not major medical insurance. this is affordable-we-pay-cash -directly-t
and i would suggest that a lot did not. >> should heads roll in washington, as a result of what went on? >> i think that the regulators who failed in their responsibility, absolutely should. >> all right, leave it there. hank, great to have out room. >> great to be with you. >> thank you so much for joining us and walking us through this, hank greenberg. >>> up next david faber along with breaking news on one of the big m&a stories of the past year....
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Jan 19, 2010
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. >> i'm in washington. housing starts jumped in november, but will they be able to survive the winter freeze? find out tomorrow morning at 8:30. >> also tomorrow a slew of big banks set to report quarterly results. mary thompson is in earnings central with a preview. everyone will be watching closely. we got citi out of the way. >> the three banks being bank of america, morgan stanley and wells fargo, all before the opening bell tomorrow. for bank of america and wells fargo the focus and the problem continues to be the consumer. here's analyst dick bove. >> the problem the banks are finding at the moment is that their consumer business is just not turning around. >> what do we expect? bank of america's fourth quarter loss is forecast to widen to 52 cents a share from 48 cents a share due to charges from the repayment of t.a.r.p. its investment bank expected to of benefit from strong equity underwriting fees. on the credit front bern stein sees nonperforming assets rising at a slower pace. like bank of ameri
. >> i'm in washington. housing starts jumped in november, but will they be able to survive the winter freeze? find out tomorrow morning at 8:30. >> also tomorrow a slew of big banks set to report quarterly results. mary thompson is in earnings central with a preview. everyone will be watching closely. we got citi out of the way. >> the three banks being bank of america, morgan stanley and wells fargo, all before the opening bell tomorrow. for bank of america and wells fargo...
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Jan 11, 2010
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that's got some people, particularly in washington, upset. but can wall street walk a tightrope and satisfy employees and laims at the same time when it comes to bonuses? >>> where taxpayer money is involved, as it has been, we have a legitimate right to talk about compensation but in the absence of that, i just get very uneasy about the idea that somehow we're going to tell some private entity what their compensation should be. owners of these public companies ought to have those right. >> that was democratic senator chris dodd on "squawk box" and morning. wall street has responded this bonus season by handing out more stock than cash. but critics say the payouts are still too much even as some bank employees complain about the lack of cash. is this is right compromise or a loose situation for the banking sector? joining me now on bonus watch is jonathan koppel, he's associate professor at the yale school of management. and john martini, executive compensation expert and partner at reid smith. gentlemen, good to have you on the program. >> t
that's got some people, particularly in washington, upset. but can wall street walk a tightrope and satisfy employees and laims at the same time when it comes to bonuses? >>> where taxpayer money is involved, as it has been, we have a legitimate right to talk about compensation but in the absence of that, i just get very uneasy about the idea that somehow we're going to tell some private entity what their compensation should be. owners of these public companies ought to have those...